[Congressional Record Volume 167, Number 192 (Tuesday, November 2, 2021)]
[Senate]
[Page S7578]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]



                           Build Back Better

  Mr. President, now on Build Back Better, today, Democrats in the 
House and Senate continue making progress on passing President Biden's 
Build Back Better plan. Last night, I held another round of talks with 
my leadership team, with the Speaker, with the White House. With many, 
we are discussing so many issues, including moving forward on 
prescription drugs. We are moving ahead, we are working through the 
outstanding details, and we remain committed to getting something big 
done for the American people.
  Nobody is getting everything they hoped for in the final deal, but 
Build Back Better will have things that everyone--everyone--wanted. 
Even as we continue finalizing the text, the President's framework 
already--already--has done very good and important things that will 
dramatically improve the lives of everyday Americans. It makes historic 
progress on childcare, pre-K, fighting climate change, providing tax 
cuts for the middle class, housing, and more.
  In years past, passing any one of these items would have been 
considered a huge step forward for the country. Now, we are working to 
get them all done at once, and we will continue making progress.
  The framework's provisions on childcare alone would be the largest in 
American history. Our country's need for childcare has grown 
dramatically since the 20th century. According to the Treasury 
Department, in fact, the average cost of caring for a young child 
hovers around $10,000 a year. Many people pay more for childcare than 
they pay for their mortgage. Ten thousand dollars a year is simply out 
of reach for far too many families.
  Not only do our kids suffer when they can't have somewhere safe to 
stay, our families suffer when they can't enter the workforce, and 
ultimately our country suffers as our economy's productivity is 
diminished.
  Build Back Better, with its unprecedented investments to help 
families better afford childcare, would finally provide parents the 
help they have needed for decades.
  That is just one example. American families under this framework will 
for the first time also have access to universal pre-K for 3- and 4-
year-olds across the country. It also extends the child tax credit 
passed earlier this year so parents can better afford things like 
groceries and diapers and utilities and other daily essentials. Since 
its enactment, this program alone has already cut poverty--child 
poverty--in half in this country. That is an amazing accomplishment and 
one that will continue to go forward under this proposal.
  So President Biden's Build Back Better framework is a historic step 
forward for families, but that is not all. The framework would also 
make bold investments to tackle the climate crisis.
  The consequences of climate change are already severe. Every time we 
face another major heat wave, it endangers the lives of Americans who 
work outdoors. Every time another hurricane hits the east coast or the 
South, it risks destroying people's homes and schools and churches and 
small businesses. Every time another wildfire rages in the West, it 
fills the air with poisonous smoke that entire cities breathe in, 
consequences yet unknown.
  Build Back Better would help our country fight this climate threat 
with unprecedented investments in clean manufacturing, clean 
transportation, clean electricity, and clean buildings, so we can cut 
our emissions, make our communities healthier, and lead the world by 
the power of our example. While there still would be much, much more 
work needed to protect our planet, this framework is a bold step in the 
right direction.

  Now, of course, even as we continue to negotiations, the President's 
Build Back Better framework contains many other good things. It will 
help Americans keep a safe and stable roof over their heads with long-
sought investments in new affordable housing, as well as ensuring that 
we keep housing affordable for low- and moderate-income families.
  I have been working night and day with my colleagues in both Chambers 
and the White House to make progress on lowering the costs of 
prescription drugs. I am very hopeful there will be an agreement as 
early as today that will include landmark reforms sought by the 
American people and the Democratic Party for decades.
  For the first time, Medicare will be empowered to negotiate 
prescription drug prices in Part B and Part D. There will be an annual 
cap on out-of-pocket costs, a new monthly cap on the price of insulin, 
and an ``inflation'' rebate policy to protect consumers from egregious 
annual increases in prices.
  These policies are common sense and overwhelmingly supported by the 
American people. The deal will finally lower the costs of prescription 
drugs for seniors and working families. It doesn't do everything I 
would want or many of us would want, but it takes a big step forward.
  All the while, Build Back Better will be fully paid for and will 
ultimately relieve our Nation's inflationary pressures. Don't take my 
word for it. Many leading economists have made clear that this 
legislation would improve--not worsen--inflation in the country. There 
are a lot of good things in this framework, and Democrats are moving 
forward to get a final agreement and this bill over the finish line.
  Nobody said that transformative legislation of this scale would be 
easy, quick, or simple, but we remain committed to meeting our ultimate 
goal of helping working- and middle-class families achieve the American 
dream in the 21st century.
  We want to help those in the middle class stay there. They are 
worried about their future and the future of their children. We want to 
help those struggling to get to the middle class get there more easily 
by building ladders that they can climb. It is so important we get this 
done. This is the best opportunity we have had in a long time to make 
that a reality, so we will continue marching ahead.